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Insider Patenting: How Fannie Mae Chief Got the Patent for Cap & Trade

Posted on May 29 2010 7:30 pm
Liz Blaine is a financial analyst, author and freelance writer on finance, economics and politics. Follow her on Twitter and her blog Liz Blaine.
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By: John Bambene

Just one day after the Democrats seized control of Congress, the Chief Executive of Fannie Mae, Franklin Raines, received the patent for a residential cap-and-trade system (Patent 6904336), What this means is that Raines, along with several colleagues who also “own” the patent, could stand to make huge amounts of money if the cap-and-trade regime was ever brought to the residential marketplace….

Franklin Raines has privileged access to Congress and politicians. He knew and could talk to them about what they were thinking and what they planned to do. As head of a government corporation, he also had a degree of access to the Patent Office to help “smooth the way” to get a patent.  What happened here has all the marks of “insider patenting”.

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